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cnbc.com
U.S. Treasury yields fall as oil prices plunge on Iran de-escalation hopes
The yield on the 10-year U.S. Treasury note — the key benchmark for U.S. government borrowing — fell over 1 basis point to 4.688%.
theguardian.com
Yen hits three-month high after Trump helps prop up currency
US and Japanese governments confirm they carried out a rare joint intervention late last weekWhy has Trump stepped in to prop up Japan’s currency?Business live – latest updatesThe yen has hit its highest level in three months after Japan and the US launched a combined operation to support the Japanese currency.The yen strengthened to ¥155 to the US dollar on Monday, its highest level since early May, after Tokyo and Washington confirmed they had carried out a rare joint currency intervention late last week. Continue reading...
cnbc.com
AstraZeneca shares drop 7% after report on $400 billion merger talks with Bristol Myers Squibb
The companies have discussed a potential merger over several months, the Financial Times reported on Sunday.
theguardian.com
UK economy faces recession if strait of Hormuz remains closed, EY warns - business live
Rolling coverage of the latest economic and financial newsAstraZeneca is the worst performer across the FTSE 100 today, with its shares down 6% after it emerged the drugmaker is in talks to take over its US rival Bristol Myers Squibb in a deal that would create a near-$400bn (£300bn) pharmaceutical group.AstraZeneca, run by its longtime chief executive Pascal Soriot, is the second-biggest listed company in the UK, with a market value of nearly £196bn before the news broke. BMS, headquartered in Princeton and known for its cancer treatments, is worth $133bn.The UK’s labour market is under sustained pressure. Hiring demand is falling across most parts of the economy, while posted wage growth is gradually cooling.That is particularly challenging for graduates and younger workers, who are competing for fewer opportunities to gain an initial foothold.“ Continue reading...
theguardian.com
AstraZeneca holds talks with Bristol Myers Squibb on $400bn merger
Tie-up would be one of the biggest-ever pharmaceutical deals and create the world’s fourth-largest drugmakerBusiness live – latest updatesBritain’s biggest drugmaker, AstraZeneca, is understood to be in discussions to take over its US rival Bristol Myers Squibb in a deal that would create a near-$400bn (£300bn) pharmaceutical group.AstraZeneca, run by Pascal Soriot, its longtime chief executive, is the second-biggest listed company in the UK, with a market value of nearly £196bn before the news broke. BMS, headquartered in Princeton and known for its cancer treatments, is worth $133bn. Continue reading...
cnbc.com
Trump says Iran talks to resume Monday after calling off planned strikes
The latest peace proposal calls for warring parties to return to negotiations and continue working out some of the thorny issues that derailed diplomatic efforts.
cnbc.com
Oil drops over 5% as Middle East tensions ebb on diplomatic efforts
Oil prices fell on Monday as investors pared geopolitical risk premiums after U.S. President Donald Trump said he had called off a planned strike on Iran.
bbc.co.uk
US and Japan take action to prop up yen in rare joint move
Both countries have said that they will not hesitate to conduct joint interventions in the future.
cnbc.com
Why the U.S. stepped in after decades to prop up Japan's yen — and what's at stake
Washington's decision to join Japan in supporting the battered yen has prompted questions over what motivated the rare coordinated intervention.
cnbc.com
CNBC Daily Open: Back to the negotiating table
Trump said negotiations with Iran will begin Monday after he held off on new strikes, raising hopes for a diplomatic end to the conflict.
theguardian.com
Trump’s hypocritical new tariffs are a chance for the world to fight back | Joseph Stiglitz
The president’s pretext of stopping forced labour is only a ruse – he is trying to grab a share of global trade for the USHere he goes again. The US President, Donald Trump, is increasing and decreasing tariffs willy-nilly, violating international agreements that he himself signed and almost surely violating federal law. The only difference this time is that he has a new pretext for abusing tariffs: stopping forced labour.Of course, the administration is right that too little is being done about forced labour. But its stated concern is a ruse. With the new tariffs closely tracking the ones that Trump imposed on the basis of trade balances, are we supposed to believe that bilateral trade deficits just so happen to be highly correlated with the use of forced labour? Continue reading...
theguardian.com
I was fined £500 after putting a coffee cup in a rubbish bag next to a full bin
Reader expresses consternation after enforcement officer issues penalty notice outside station in LondonI was outside London Waterloo railway station and was looking for a bin to dispose of an empty coffee cup.The only bin I could see was completely full, but there was a plastic bag containing rubbish at the base. Continue reading...
cnbc.com
'Winter is coming': Ukraine fears its toughest test since Russia's full-scale invasion
Russian forces have ramped up the number of missile strikes on Ukrainian cities, likely seeking to exploit Kyiv's shortage of ballistic missile interceptors.
bbc.co.uk
New Spider-Man film sees second-biggest ever global opening weekend
The strong box office performance gives a boost to Disney ahead of the much-anticipated Avengers: Doomsday.
cnbc.com
U.S., Japan confirm coordinated yen intervention, signal readiness for more
Japan's finance ministry said Monday it conducted a coordinated yen-buying intervention with the U.S. Treasury on Friday.
bbc.co.uk
Almost £200,000 of fuel stolen from UK forecourts every day since Iran war began
Incidents of fuel being taken without payment have risen by a fifth in five months, according to industry analysis.
bbc.co.uk
The change that may help you get a mortgage as a first-time buyer
More relaxed mortgage regulation opens the door for some first-time buyers, but it comes with risk.
theguardian.com
At least five Mohamed Al Fayed abuse survivors confirmed as human-trafficking victims
Decision comes after group of survivors claimed ex-Harrods owner’s associates must have helped facilitate his crimesAt least five victims of the former Harrods owner Mohamed Al Fayed have been confirmed by the Home Office as victims of human trafficking.A group of survivors of abuse by the deceased businessman had called for the Metropolitan police to make trafficking the main focus of its investigation, arguing that Fayed could not have committed his offences without a steady stream of women sent to him by associates. Continue reading...
theguardian.com
Britain could face food shortages as drought continues, farmers warn
Farmers battle to salvage what they can of their crops as heatwave set to continueBritain could face shortages of certain foods after punishing drought in parts of England, the National Farmers’ Union (NFU) has warned as a heatwave was forecast to continue into next week.The UK’s Health Security Agency (UKHSA) has issued heat health alerts for eight regions of England, with temperatures set to rise above 30C in parts of the country. UKHSA said rising temperatures may increase health risks, particularly for vulnerable groups. Continue reading...
theguardian.com
The Guardian view on global corporate tax: a $500bn prize that states must seize | Editorial
Donald Trump may reject the negotiations, but he cannot veto a global effort to make multinational companies answer to governmentsGovernments are told that public services must shrink because money is tight. Yet a new Tax Justice Network report says that countries could capture an extra $500bn a year without raising corporate tax rates. The answer is to tax multinational profits where real economic activity happens – known as unitary taxation. No new profit is created. Revenue simply shifts from tax havens where profits are “booked” to the countries where workers produce and customers spend.Making that principle a global tax standard depends on UN talks opening in New York on Monday. Modelled on the UN climate regime, a fiscal framework convention would create the governing body and procedures, with protocols providing detailed rules. The UN wants agreement by late 2027. Donald Trump’s US walked out last year and urged others to follow. None did. Continue reading...
cnbc.com
'Spider-Man: Brand New Day' chases 'Avengers: Endgame' opening record with $355 million domestic debut
Sony and Marvel's "Spider-Man: Brand New Day" snared $355 million in estimated domestic box office on its opening weekend, the second-highest debut of all time.
theguardian.com
Solar powers record share of Britain’s electricity mix in July
Farms and rooftop panels contribute 14.4% to the grid – and figures reveal a surge in new installationsSolar energy supplied more power to Great Britain’s grid in July than in any previous month as households turned to rooftop panels to cut their energy bills.Solar farms and rooftop panels provided 14.4% of the country’s electricity after some parts of the UK recorded almost twice the average sunshine hours for the time of year. Continue reading...
cnbc.com
Investors scored on Iran war's oil market boom. Staying long the trade will get trickier
Oil price volatility caused by U.S.-Iran war created big market winners, but for buy-and-hold investors, there are better long-term energy themes to monitor.
theguardian.com
Trump is determined to pursue his trade war – and he may be difficult to stop
The president’s minions have trawled the statutes to restore roadblocks to trade. The invocation of Smoot-Hawley looks especially dangerousDonald Trump may have found the killer weapon to punish countries at will: by imposing tariffs on their exports to the United States.The president has been looking for a new tool since February, when the supreme court struck down tariffs he slapped on virtually all of America’s trading partners based on the International Economic Emergency Powers Act, or IEEPA, on the spurious grounds that the US faced a variety of national emergencies. It’s become a parlor game among policy wonks to predict what new legal justification he would deploy to replace them.Eduardo Porter is a journalist focused on economics and politics. He writes the newsletter Being There on Substack Continue reading...
theguardian.com
Why Andy Burnham’s devolution pledge will be tricky to deliver | Richard Partington
Sharing income tax with England’s regional mayors could tackle inequality but many councils are ill-equipped for an enlarged roleOn the road to Downing Street, Andy Burnham promised to transfer power from Westminster to every postcode in the country. After his first two weeks in office, the size and complexity of this project are becoming clearer.With a date set for the autumn budget, the work of filling in the detail that will underpin his devolution plans begins – starting with his proposal to hand England’s regional mayors a share of income tax to support local economic development. Continue reading...
theguardian.com
Inside M&S’s swanky Oxford Street revamp, the blueprint for its £700m growth strategy
As boss Stuart Machin unveils a new-look Pantheon the retailer has fashion and overseas challenges aheadOn a hot summer’s evening on London’s busy Oxford Street, a crowd of fashion influencers, models, journalists and the odd City analyst gathered for a first look at the upmarket revamp of Marks & Spencer’s landmark Pantheon store.Some may have had to double-check they had the right address, such is the scale of the makeover at the 88-year-old outlet, which is intended as a blueprint for change across the retailer’s more than 200 large stores. Continue reading...
theguardian.com
Stock market turmoil sheds stark light on the opaque AI economy
Investors scramble to make sense of a shock Chinese challenge to the dominance of western chipmakersEven for the rollercoaster world of AI, last week was particularly volatile as investors scrambled to keep up with developments that threatened the dominance of the largest western chipmakers.It began with a double whammy. On Monday, the Chinese memory chipmaker CXMT floated on the Shanghai stock market, soaring by 466% in value to 3.3tn yuan (£365bn). Continue reading...
theguardian.com
‘You owe parking fees’: experts warn of fake RingGo text scam
Criminals hope by using threats of enforcement action, people will panic and click link to bogus parking app siteYou use parking apps a lot – you have several on your phone – but it is not always straightforward. Sometimes there is a lack of reliable mobile signal, or the app crashes or behaves oddly, or it does not seem to want to accept your bank card.Also, it is sometimes hard to keep track of which apps you have used when. So when you receive a text from RingGo saying you owe it money, you are not totally surprised. Continue reading...
theguardian.com
Kremlin connections: the Russia links to a £600m UK theme park
Exclusive: French company Puy du Fou worked with a sanctioned oligarch on plans for a Crimea resort longer than disclosed, and later courted Iran and ChinaIn February 2014, thousands of “little green men” – Russian soldiers in unmarked uniforms – flooded into Crimea, seizing control of military bases and infrastructure.Their arrival marked the opening salvo of Vladimir Putin’s annexation of the peninsula, an operation that ultimately escalated into the full-scale invasion of Ukraine. Continue reading...
theguardian.com
Callas, Beethoven, bee-eaters or storks: competition seeks to redesign euro notes
The EU is using a currency revamp as an opportunity to be less neutral and try some finely balanced identity-buildingIs Europe best represented by the bold intellect of Marie Curie, the sprawling imagination of Miguel de Cervantes and the intense musical genius of Ludwig van Beethoven? Or by a migrating stork and a bee-eater, swooping across borderless plains and enjoying freedom of movement across European countries?The quest to settle this issue has engaged a surprising number of people across the continent, after more than 6 million people voted in a survey within just a week of its launch to determine whether the newly redesigned euro bank notes should depict either cultural figures or birds and waterways. Continue reading...
theguardian.com
‘We cannot magic up more water’: the supply problems putting housing targets in England at risk
Council leaders say crumbling infrastructure and lack of water are jeopardising government’s plans for new homesThe government’s housebuilding agenda is hitting the stark reality of a lack of water and crumbling infrastructure across the east and south-east of England.Half the country was declared to be in serious drought this week, for the second consecutive year, with the Environment Agency warning of dire consequences for the economy, environment and wildlife. Continue reading...
theguardian.com
UK’s state investments agency hit by data breach
Security lapse leaves sensitive information and contact details of 51 government officials exposed for 40 hoursThe public body in charge of the UK’s state investments has been pushed to improve its internal security after a data breach left “high-level management information” publicly accessible for nearly two days.UK Government Investments (UKGI), the agency that manages the taxpayers’ interest in a swathe of companies including Channel 4 and the Post Office, said the security failure also left more than 50 government officials’ personal details exposed for nearly 40 hours. Continue reading...
cnbc.com
An exam leak in India exposed a Gen Z jobs crisis that goes much deeper
While the leak of key exam papers was the trigger for the recent student protest in India, rising unemployment is the real fuel angering Gen Z in the country.
bbc.co.uk
Parents save on school uniforms at city swap shop
Parents take home school uniform for free at a pop-up that organisers hope can become a regular event.
theguardian.com
California announces minimum wage increase as governor taunts Trump
Gavin Newsom says new pay floor of $17.40, set to become highest of any US state, will go into effect on 1 JanuaryCalifornia governor Gavin Newsom announced that the state’s minimum wage will rise to $17.40 next year, a pay floor set to become the highest of any US state.The pay bump will go into effect starting 1 January, Newsom announced on Friday. The state’s current minimum rate is $16.90. In a news release, Newsom touted the move as a salve for working families amid high living costs and took a jab at the Trump administration. Continue reading...
theguardian.com
Ultra-processed food companies hindering health drives by suing countries, says WHO
Exclusive: Director general accuses corporations of obstructing efforts to tackle obesity crisis after investigation by Guardian and othersThe world’s biggest ultra-processed food corporations are hindering global efforts to tackle the obesity crisis by suing governments that try to promote healthier diets, the head of the World Health Organization has said.Tedros Adhanom Ghebreyesus, the WHO director general, accused global food companies of obstructing the adoption of vital public health measures and costing countries billions of dollars in healthcare and legal costs in the process. Continue reading...
cnbc.com
â??Berkshire Hathaway shares hit eight-month high
The conglomerate that Warren Buffett built rallied to an eight-month high this week. There could be more gains ahead if they play catch up with the S&P 500.
theguardian.com
New York City’s Flatiron building enters new era with $58.5m apartments
Manhattan’s triangular building will open this fall to wealthy residents, with 36 apartments exposing Flatiron’s ‘steel skeleton’New York City’s Flatiron building has had many lives: as a structure seen as a deathtrap; as a nuisance which created a deadly, petticoat-lifting, wind current and, mainly, as a commercial space.Now, the triangular building, a favorite of tourists and locals alike, is entering a new era: as a residential building, where apartments cost up to $58.5m. Continue reading...
bbc.co.uk
Faisal Islam: Four reasons why Fifa's World Cup plan never stacked up
The actual presentation of FIFA's plan to part-privatise the World Cup raises many more questions than it answers.
theguardian.com
China’s tech advances are causing chaos from Silicon Valley to the White House
New AI models, advanced robots and specialty computer chips are unsettling markets and the US tech industryOver the past month, a series of advancements in China’s artificial intelligence, chip manufacturing and robotics technologies have rattled financial markets, caused divisions among US tech moguls and left the Trump administration scrambling to respond.Silicon Valley has long pointed to China’s tech industry as a competitive threat and used its growth as rationale for why US firms should not face regulatory oversight that could slow them down. In recent weeks, however, China’s progress has pushed US tech CEOs past vague warnings and into open disagreement over how to address Chinese-made products upending their industry. Continue reading...
theguardian.com
Lost income, energy fears and a woolly mammoth: what Europe’s dried-up rivers have yielded
Heat and drought have affected shipping, power plants and tourism across eastern Europe – as well as unearthing some surprisesBaking temperatures and drought across large swathes of central and eastern Europe have driven water levels on the Danube and Rhine rivers to record lows in some areas, hitting shipping, energy production and tourism hard.Extreme conditions aggravated by the climate emergency left Europe’s waterways from the Netherlands to the Black Sea parched, triggering compounding crises. Continue reading...
theguardian.com
In the battle of Elon Musk v the press, we can’t let truth be the loser | Jane Martinson
The trillionaire Tesla owner has called the editor of the Economist a ‘traitor to the west’ after a clash-filled interview. How should the media respond?Elon Musk’s long interview with the editor of the Economist is as good a representation as any of the current clash between two worlds. In one corner, the editor of an 182-year-old news organisation which promotes economic liberalism and freedom. In the other, the world’s first trillionaire, who spreads misinformation to his hundreds of millions of followers on his own social media platform. The bout is a masterclass in the challenges journalists face in a new world of AI, fact avoidance and online aggression.The flash points in Zanny Minton Beddoes’ conversation with Musk start with definitions. Musk says that the people Minton Beddoes calls “far-right” and “fringe” (she mentions Germany’s AfD party) are in fact just “normal people”. They clash over whether the speed of his cuts to USAID led to unnecessary deaths in developing countries – she believes his claim that it didn’t defies not only statistics but the evidence from her reporters on the ground. Asked if he is racist, he cites the fact he has four children with a woman who is “half Indian”. In an awkward exchange, when asked by Minton Beddoes whether he is anti-Muslim, Musk says he is against “people coming to a country with antithetical views … I’m against rape and murder.”Jane Martinson is a Guardian columnist. She is a board member of the Scott Trust, which owns the Guardian Media Group. As the Marjorie Deane professor of financial journalism at City St George’s, University of London, she has a connection through a charitable foundation to Zanny Minton Beddoes, who is chair of trustees. She writes in a personal capacityDo you have an opinion on the issues raised in this article? If you would like to submit a response of up to 300 words by email to be considered for publication in our letters section, please click here. Continue reading...
theguardian.com
From Ozempic to eye creams: demand for bathroom mini fridges is heating up
Sales soar as consumers seek maximum convenience, though experts say most products don’t need to be kept coolWhen it comes to essential fixtures and fittings for bathrooms, the most common are tubs and taps. But now there is a new must-have emerging: a mini fridge.Used to store everything from beauty products to GLP-1 medication, the growing demand reflects a wider trend in how the wellness industry and weight-loss drugs are reshaping homes. Continue reading...
theguardian.com
‘We didn’t feel safe’: Booking.com users face battle to get money back
From melted electric sockets to shabby alternatives, readers tell of dealings with platform when things go wrongJane Ripley* spent some time researching the best apartment to stay in for her family’s trip to Batumi in Georgia, eventually settling on one with an “exceptional” rating on Booking.com.But when the Ripleys arrived at 11pm on the first day, they were directed to another property that was shabby and had stains on the furniture and ceiling. Continue reading...
bbc.co.uk
Stick to spending limits, PM and chancellor tell ministers in joint memo
The Chancellor said the Budget on 28 October would “meet our fiscal rules” and give families "stability" to plan for the future.
cnbc.com
Building for 131°F: Europe races to protect its infrastructure from a ‘quiet catastrophe’
A summer of weather extremes and severe infrastructure stress has prompted companies and policymakers across Europe to respond.
theguardian.com
Turn failing water firms into not-for-profit cooperatives, MPs and mayors tell PM
Labour politicians say mutualised model puts public in control without adding debt to government’s balance sheetMPs and mayors close to Andy Burnham have told the prime minister there is a “third way” to gain more control of failing companies, as the row over whether or not to nationalise Thames Water rumbles on.Burnham is said to be concerned about the increase in government debt that Treasury projections show could be a result of nationalising water companies. Continue reading...
theguardian.com
The tangled financial web at the heart of Reform UK
Nigel Farage’s £5m gift, the Cottrell family’s links and donations, and Richard Tice’s business dealings form part of an increasingly clear nexus of relationshipsIt has been three months since the Guardian revealed that Nigel Farage had accepted a £5m gift from Christopher Harborne, a billionaire donor to Reform UK.This was not the first story in our continuing investigation. But it has proved the most significant, and the consequences of the disclosure are still being played out. Continue reading...
theguardian.com
‘Proteinmaxxing’ could lead to higher prices for infant formula, say experts
Whey protein, a key infant formula ingredient, is in growing demand, partly linked to rising use of weight-loss drugsThe rise of “proteinmaxxing” – a trend in which consumers try to eat as much protein as possible – could lead to higher prices for infant formula, experts warn.Whey protein, a key ingredient in infant formula, has surged in popularity over the past year as health professionals emphasise the benefits of protein. Continue reading...
bbc.co.uk
Snapchat joins other popular platforms in fight against 'AI slop'
Snapchat, YouTube, LinkedIn, and Substack are trying to combat the proliferation of fake AI content.
cnbc.com
Fintech broker Clear Street offers investors pre-IPO access to $188 billion AI giant Databricks
Fintech brokerage Clear Street is launching a private markets platform, beginning with Databricks stakes, to give investors more access to late-stage startups.
cnbc.com
Trump's AI executive order nears key deadline as regulation debate intensifies
OpenAI's Sam Altman and Nvidia's Jensen Huang were among tech leaders in Washington, D.C., ahead of a deadline the White House set in its AI executive order.
cnbc.com
‘Spider-Man: Brand New Day’ sets domestic box office preview record with $72 million
Sony and Marvel's "Spider-Man: Brave New Day" is expected to haul in around $270 million domestically over its debut weekend.
cnbc.com
FIFA tests the limits of private equity in sports with World Cup subsidiary sale
UEFA and Concacaf's rejection of FIFA's plan to sell a 20% stake in the World Cup's commercial operations highlights uneasiness with private equity in sports.
cnbc.com
Hamas says Trump's Gaza 'disarmament' claim depends on Israel honoring commitments
Hamas says it will only disarm after Israel meets previous ceasefire commitments, despite President Trump's announcement of a breakthrough U.S.-brokered agreement.
cnbc.com
How Leopold Aschenbrenner built a $45 billion AI hedge fund — and lost most of it in days
Leopold Aschenbrenner, a former OpenAI researcher-turned-hedge fund manager, saw a dramatic decline this week in his AI-focused fund, Situational Awareness.
cnbc.com
Alphabet, Amazon and Microsoft added nearly $1.5 trillion in combined value this week
Amazon, Microsoft and Google added hundreds of billions of dollars to their market caps, while Apple and Meta saw their market valuations fall.
cnbc.com
Dwindling cash and soaring memory costs: Tech's AI buildout has ballooning price tag
Amazon, Alphabet and Tesla all reported negative cash flow in the latest quarter, while Meta's cash generation plummeted by 91%.
cnbc.com
Trump says U.S. has 'not agreed to' grant Ukraine Patriot missile licenses
President Donald Trump said the U.S. hasn't agreed to grant Ukraine licenses to produce Patriot missile systems.
theguardian.com
‘It ain’t the same’: inside the bitter battle to free Ben & Jerry’s
Ben Cohen says his ice-cream company has been silenced by corporate ownership – and a boycott of Magnum brands could force a saleBen & Jerry’s ice-cream in the tub is still great, but the brand’s newest chocolate-covered ice-cream bar on a stick?“It ain’t the same,” Ben Cohen, the company co-founder, told the Guardian. Sure, the chocolate coating is still thick enough, but the ice cream itself is “kinda fluffy”, Cohen said – an insult in the ice-cream world that suggests extra air was added to cut costs. Continue reading...
bbc.co.uk
AI firms must answer for rogue bots, says boss of hacked company
Clement Delangue said he didn't want cyber attacks on other companies to become "normalised".
cnbc.com
As Warsh’s Fed faces pressure to act on inflation, these indicators show it’s at its lowest in years
Trimmed mean measures are painting a different picture than the headline numbers.
cnbc.com
U.S. lawmakers request information from DoorDash on use of Chinese AI models
The food delivery company is the latest to be asked to share details of AI use by two House committee conducting a joint investigation.
theguardian.com
The Guardian view on England’s centralised state: Andy Burnham must unbundle it | Editorial
Devolution should finance transport, skills and industry, not become a rightwing contest to promise the largest tax giveawayThat England is among the rich world’s most centralised countries underpins Andy Burnham’s critique of the economic history of the past 40 years. Only post-communist Europe deindustrialised as rapidly as Yorkshire and the Midlands did in the 1980s. Centralisation did not close every factory or pit, but left regions without the powers, finance or institutions to cushion the shock or build a resilient, replacement economy. Hence Mr Burnham’s radical and welcome plan to unbundle English government.There are three facets to his devolution programme. The first are the detailed and concrete proposals contained in a cabinet paper Mr Burnham released on Friday. This appears to be a blueprint to create a decentralised state organised around mayors as the key regional economic actors, while jointly governed pan-regional agencies could emerge, say for transport, energy, investment and industrial systems, that cross mayoral boundaries. Regions without mayors will get a chance to have one – or limit themselves to weaker powers. Continue reading...
cnbc.com
Exxon and Chevron profits surge on rising oil prices due to Iran war
ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.
cnbc.com
Democrats demand information on Trump and Lutnick families' ties to critical mineral deals
The senators asked the Departments of Commerce, Defense, Energy, Interior and the Export-Import Bank to preserve all records related to those deals.
bbc.co.uk
BP puts North Sea business up for sale
The decision follows a review of BP's operations and is set to end 60 years of production in the region by the oil giant.
theguardian.com
UK petrol price hits Iran war high, adding to pressure on households
Average pump price reaches 160p a litre, while diesel is up 14.5p to 179p and forecast to increase to 185p soonThe price of petrol has hit a new Iran war high at UK forecourts, adding to the financial pressure on millions of households about to embark on their annual holiday.The RAC said that in “very unwelcome news for drivers” the average pump price had reached 160p a litre, reversing the fall to 151p in early July that followed the announcement of a Middle East ceasefire. Continue reading...
bbc.co.uk
Andy Burnham to give regional mayors share of income tax
The prime minister says the move will give power to "every postcode" but critics say the plans lack detail.
bbc.co.uk
Sainsbury's agrees to sell Argos for £120m
Under the terms of the deal, Argos will still operate in Sainsbury's shops, sell Habitat products, and offer Nectar points.
bbc.co.uk
Passenger on British Airways mayday flight describes fear and shout of 'I don't want to die'
Edward Killiwick was on the flight that issued a distress call, before it landed safely at Heathrow earlier this month.
bbc.co.uk
UK petrol prices hit highest level since Iran war began
The price of unleaded hits 160p a litre, according to motoring group the RAC, as oil prices remain elevated.
cnbc.com
Iran targets strategic U.S. assets in Kuwait, Bahrain after Egypt drone attack
Iran's army said it launched attacks on strategic U.S. assets and military bases in Kuwait and Bahrain.
bbc.co.uk
Anthropic's Claude AI escapes to hack into three organisations
It comes just days after rival OpenAI said rogue AI agents had breached other firms' networks.
bbc.co.uk
'I will miss my shop tremendously after six decades'
Meredith's DIY Hardware and Ironmongery has been at Yate Shopping Centre, near Bristol, since 1965.
bbc.co.uk
South Korean shares soar after chip stock rout
It comes after a three-day rout that wiped hundreds of billions of dollars off the value of the country's stock market.
cnbc.com
Fast-fashion retailer Shein’s 3-year IPO odyssey may have cost it the ‘golden time’ to go public
Investors are questioning whether Beijing's blessing can carry a $40-billion-plus valuation for a clothing retailer whose growth engine is stalling.
theguardian.com
Charming homes for sale with family gardens in England – in pictures
From the heart of the Peak District to the Kent Downs, houses with outside space to suit all ages Continue reading...
bbc.co.uk
Hospital parking hike adds stress, patients say
From 31 July hourly parking charges will increase by about 50% at several hospitals in the county.
bbc.co.uk
Group's mission to appreciate every piece of food
Food in Community takes unwanted and surplus produce from growers and farmers.
theguardian.com
Soy sauce refills and reused jars: can Philippines’ tingi culture hold back deluge of plastic waste?
A zero-waste shop set up by a district council provides plastic-free products at affordable prices in a country that gets through 164m sachets a dayJust after classes finish for the day in Malabon City, in the Philippines, a corner shop begins to fill. Mothers arrive with their children, handing over empty bottles to be refilled with soy sauce and cooking oil. Plastic tubs that previously held ice-cream or biscuits are weighed and filled with flour or sugar. The kids get some sweets and banana chips bagged in brown kraft paper.This store, Tingi Tindahan, offers a different experience from other small independent shops in the country. It retains the accessibility of micro-retail, colloquially known as tingi, while reintroducing reuse and refill methods instead of selling products in sachets and plastic packaging that too quickly becomes discarded waste. Continue reading...
theguardian.com
‘It makes your heart sing’: can a pioneering project show that rewilding really works? – podcast
Intensive farming has all but destroyed England’s ancient woodlands and freshwater wetlands. On a farm in Lincolnshire a radical aristocrat hopes to show there’s money in protecting natureBy Patrick Barkham. Read by Dermot DalyRead the text version hereSupport the Guardian today: theguardian.com/longreadpodThe summer issue of the Long Read magazine is out now. Click here to order Continue reading...
theguardian.com
Could AI take your job? Some workers in China already know the answer
Across the country, workers are fearful about the impact of AI on their livelihoods in an increasingly fragile labour market On the tree-lined streets of Wuhan, where cars jostle for space with mopeds and cargo trucks, the malfunctioning of a new type of vehicle has recently been causing chaos on the city’s roads.In March, several cars from a fleet of driverless taxis stopped abruptly in the streets. The “system malfunction” left distressed riders stranded for hours. The robotaxis, known as Apollo Go and powered by artificial intelligence (AI), were taken off Wuhan’s streets for months for investigations. Continue reading...
bbc.co.uk
Amazon and Apple just told us more about their AI plans - here are three things we learned
Billions of dollars are being poured into a new wave of AI technology. But will it pay off?
bbc.co.uk
Apple warns of future 'supply constraints' for Mac, iPhone, iPad
Shares of Apple plunged on a warning of slower sales in the coming months.
bbc.co.uk
Thames Water boss says leakage targets 'not realistic'
Chris Weston said Thames wanted "to do better" but some of its targets were not achievable.
bbc.co.uk
'I pay £580 a month to live in a disused care home': Property guardians show us around
Could you live communally in a disused building in exchange for a heavily discounted rent? Property guardians show us around.
theguardian.com
Record low water levels across Europe reveal mammoth skeletons and forgotten shipwrecks – video
Water levels across several of Europe’s major waterways have dropped to exceptionally low levels, setting new records in some areas.Extreme heat exacerbated by the climate crisis is intensifying the drought hitting the continent as record-breaking heatwaves means the hot atmosphere is evaporating water from rivers, lakes, soils and plants quickly.The Danube has hit the lowest level of water in 30 years in several countries including Hungary, Serbia and Romania, and the Rhine has dropped to its lowest recorded level in some sections and is expected to drop further due to droughtClimate crisis-driven heat ‘sucking soils dry’ as extreme drought hits Europe Continue reading...
bbc.co.uk
India wants to join the strawberry superpowers
Indian strawberry farmers rely on varieties imported from the US and Europe, but that could change.
bbc.co.uk
Virtual interviews don't show bosses your personality, says Burnham
Interviews online may not allow young people to "shine" and communicate their "passion", the prime minister says.
bbc.co.uk
British Airways flight called mayday on approach to Heathrow
The call was made on an Airbus o20 flying from Dusseldorf airport in Germany on 6 July following two stall warnings.
bbc.co.uk
Hundreds of jobs to go at Jaguar Land Rover
The car giant says it expects fewer than 300 people will lose their jobs.
bbc.co.uk
Bank holds interest rates but says it is ready to raise them if Iran war escalates
The Bank also expects the economy to grow more than previously forecast this year, although uncertainties remain because of the Iran war.
bbc.co.uk
Burnham says he told Trump UK will be pragmatic about North Sea oil
Andy Burnham says he told the US president he couldn't ignore North Sea resources when people are struggling.
bbc.co.uk
US economic growth sees surprise slowdown in second quarter
The economy grew at an annual rate of 1.5% in the three months to June, down from 2.1% seen in the previous quarter.
theguardian.com
Will we pay more tax to fund social care? – podcast
Andy Burnham gave a major speech on Wednesday on his plans for a national care service. He sought cross-party consensus on the issue by speaking to the Tories and Lib Dems. But not Reform UK or the Greens. On Thursday, Reform’s Robert Jenrick claimed at a press conference that the prime minister wanted a ‘death tax’. But is that what Burnham set out? Plus, Zack Polanski is under fire for a social media post. Is the Green party leader too ‘online’? Pippa Crerar and Peter Walker discussRead Peter Walker’s article on Zack Polanski’s social media use here.Read John Crace’s article on social care here.Please keep sending your comments and questions to politicsweeklyuk@theguardian.com Continue reading...
theguardian.com
Are British graduates being conned? | Opinion
Thousands of students are graduating into an employment crisis, leaving them feeling hopeless and overqualified, as well as dealing with enormous debts from tuition fees. When higher education was transformed, teenagers were offered a deal - pay £9,000 a year and secure a ‘bright future’. But as the Guardian’s economics commentator Aditya Chakrabortty accurately predicted, for many the reality has been very different Continue reading...
bbc.co.uk
Shell profits double as oil prices rise due to Iran war
Disruption to global supplies of oil and liquid natural gas through the Strait of Hormuz has pushed up prices.
cnbc.com
From Hormuz to the Black Sea: Maritime battlefields are shaping ‘a new world order’
Attacks near the Strait of Hormuz, Red Sea and Black Sea are pushing shipowners to reroute cargo and rethink global trade risks.
bbc.co.uk
The Chinese robot army transforming the UK's retail industry
Britain's weak productivity growth and labour shortages are creating an opportunity for China's robotics firms.
bbc.co.uk
What happens here has a big impact on your money
BBC business reporter Dearbail Jordan explains how it works from inside the Bank of England.
bbc.co.uk
How cow showers and fans help farmers keep cattle cool
Dairy farmers are using cow showers and fans to protect cattle as hotter summers hit milk production.
bbc.co.uk
1975: The world's first shop for left-handers
A London shop selling goods designed for left-handed people was doing a brisk trade.
bbc.co.uk
Shabaz Asks: Are Billionaires Bad?
Shabaz Ali turns author to see if the internet's favourite villains deserve the hate.
cnbc.com
U.S. and Korean tech stocks are now tightly linked — and that could be a worry for investors
The 60-day correlation between the Kospi and Nasdaq 100 recently climbed to about 0.50, its highest level since 2021, according to data provided by Rayliant.
bbc.co.uk
Is it time to stop using glue and labels on paper?
Labels and adhesives can prevent paper from being recycled but there's new tech aimed at changing that.
bbc.co.uk
The 20-somethings betting big on tech stocks
The BBC hears from people about the risks and rewards of investing in technology shares.
bbc.co.uk
This farmer wanted to quit the cocaine industry - he couldn't
Colombians who grow cocaine's raw material bemoan a lack of support to help them switch crops.
bbc.co.uk
Is tracking your food purchases good for your health?
Food tracking apps are popular, but are they a good way to make us eat a healthier diet?
theguardian.com
AI and artists can click – a new manifesto for modern creativity
The UK is both an epicentre of global creative industries and a budding AI powerhouse. Here’s how it can balance support for creatives while also embracing technological changesWhat does it mean to be a creator in today’s modern world when artificial intelligence is reshaping relationships between humans and technology?That’s one critical question the UK creative industry has been asking itself as AI rips up traditional conventions on copyright, ownership, effort, and originality. Continue reading...
bbc.co.uk
New era for Gibraltar with removal of 118-year-old border controls with Spain
It is hoped that free movement between the UK territory and Spain will provide an economic boost.
bbc.co.uk
Wealthy AI workers send San Francisco house prices soaring
The median cost of a home in the city is now $1.7m, a record high, according to the latest figures.
bbc.co.uk
Robots available for rent: But what can they do?
Robotics tech is changing fast, so for many it makes sense to rent a robot.
bbc.co.uk
AI is 'not smart' so what's next in artificial intelligence?
Leading AI researcher Yan LeCun has a start-up which is developing a more flexible AI system.
bbc.co.uk
Why Gen Z are planning for life without a state pension
Many younger people do not believe the state pension will exist when they are older
bbc.co.uk
The furious dispute over what caused Air India flight 171 to crash
The final conclusions of the investigation have yet to be published, although more could become apparent in the coming days.
bbc.co.uk
How the High Street became a window on our political instability
High Streets have declined in recent years. What does this tell us about the UK?
bbc.co.uk
The £5 coffee that tells a story of global economic turmoil
Coffees at some city centre outlets now cost £5. It's a story of tariffs, the climate, Gen Z cultural tastes, and savvy coffee farmers playing the market, writes Faisal Islam
bbc.co.uk
The threat to summer holidays looming from jet fuel shortages
What impact might shortages have on our summer holidays - and what could be done about it?
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